The Per Jacobsson Lecture


Joseph C. K. Yam, CBE, JP

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Grand Hyatt Hotel, Grand Ballroom
Hong Kong, China

3:00 P.M.

Opening Remarks--Sir Jeremy Morse

  Question and Answer Period--Questions may be submitted through the ushers by using the card at the back of the program.

Reception--All participants are invited to a reception following the lecture given by the Hong Kong Association of Banks.


Joseph C.K. Yam has been Chief Executive of the Hong Kong Monetary Authority since 1993. After receiving his first-class honors degree in Economics and Statistics at the University of Hong Kong in 1970, he started his civil service career in Hong Kong as a statistician in 1971. In 1976, he was transferred to the Economic Services branch of the Hong Kong Government Secretariat as an economist. There he worked closely with the Financial Secretary and the Secretary for Economic Services on budgetary matters and on economic analysis.

In 1982, Mr. Yam was transferred to the Monetary Affairs branch as a principal assistant secretary. He was subsequently appointed Deputy Secretary for Monetary Affairs in 1985 and Director of the Office of the Exchange Fund in February 1991. He was responsible for many of the reform measures introduced since the mid-1980s to strengthen Hong Kong's monetary system and to develop its financial markets. These measures have contributed much to monetary stability in Hong Kong and to its development as an international financial center.

Mr. Yam was instrumental in the establishment of the Hong Kong Monetary Authority in April 1993 when he was appointed its Chief Executive.

In June 1995, Mr. Yam was appointed by the Queen as a Commander of the Most Excellent Order of the British Empire (CBE). The following month, he was also honored with the first "Banker of the Year" award in Hong Kong.

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